Dirty “God of stocks”!

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Source: wechat official account: Bu Yidao has been authorized to reprint

Pen / Sword smile & Dao Dao sister

Another “empty gun”?

The latest news from the US State Department said that House Speaker Pelosi had not yet announced his “visit to Taiwan”.

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In April this year, it was said that she was forced to postpone the “visit to Taiwan” plan due to the infection of novel coronavirus. Pelosi’s “visit to Taiwan” has become the focus of public opinion twice in half a year.

However, unlike that in April, the timing of this time is quite interesting.

Coincidentally, it happened that the American media exposed that Pelosi’s husband Paul bought the shares of American chip industry leaders before the so-called chip bill vote.

The problem is that this is not the first time that the Pelosi couple have been so accurate. Naturally, it once again raises people’s concerns about whether there is insider trading.

I don’t know whether after several rounds of similar operations, the wealth of the Pelosi couple has soared from $41million in 2004 to nearly $215million today. Pelosi’s annual salary is only about $220000; In addition to stock speculation, Paul only operates a real estate and venture capital consulting company headquartered in San Francisco.

Some American netizens sarcastically said that in the past, they only knew Buffett, the “God of stocks”, but they did not know that the real “God of stocks” was in the U.S. Congress.

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From July 16, fox, the New York Post and other American media began to disclose that before the so-called chip bill vote, Pelosi’s husband Paul bought 20000 shares of NVIDIA, with a total market value of up to $5million.

On the 18th, Pelosi’s spokesman responded: “the speaker did not know in advance, and subsequently did not participate in any transaction.”.

On the 19th, the Financial Times quoted six sources as saying that Pelosi plans to lead a delegation to Asia in August this year, including Taiwan, China.

The 19th is also the earliest time for the US Congress to vote on the chip bill. This bill will provide us $52billion in subsidies to promote the development of the US chip industry.

Therefore, a reasonable guess came, and the rumor of “visiting Taiwan” was probably Pelosi’s act of killing two birds with one stone.

First, it can transfer the doubts of the domestic media of the United States about her husband’s purchase of shares; Second, one of the focuses of cooperation between the United States and Taiwan is the chip industry. TSMC will set up factories in the United States, and Taiwan universal wafer also announced that it will set up factories in the United States… In this sense, the rumors of “visiting Taiwan” can close the relationship between the United States and Taiwan.

As the speaker of the house of Representatives and the most powerful woman in the United States, Pelosi publicly supported the chip bill and broke the rumors of her “visit to Taiwan” at this juncture. Under such a special time and background, the coincidence of her husband’s large purchase of NVIDIA shares makes it difficult to avoid the worry of “insider trading”.

Fox19 also said with a little emotion that American media such as CNN, MSNBC, ABC, CBS or NBC ignored Pelosi’s husband’s move.

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On twitter, there is an account @nancy Pelosi stock tracker, which tracks the investments of the Pelosi couple, with 57000 fans. Before similar accounts were banned last year, there were more than 200000 fans.

This account records an interesting timeline:

On the 14th, Pelosi declared to buy NVIDIA shares.

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16th: Pelosi has held 20000 shares of NVIDIA worth more than $8million, and the chip bill is being shelved by Congress. Pelosi said yesterday: “we are determined to pass this bill before the Congress recess in August.” NVIDIA shares rose 4% on the news.

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19th: NVIDIA’s share price has risen 10% since Pelosi submitted the declaration. Another victory for Pelosi capital.

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19th: Congress plans to vote on the chip bill as early as today. As a reminder, Pelosi submitted an application to buy NVIDIA shares on July 14. Since then, NVIDIA’s share price has risen 13%.

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20th: an interesting fact today: Pelosi and her husband earned three times their annual salary through NVIDIA’s related transactions in just one month. Today alone, NVIDIA’s share price rose by 7%.

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According to the statistics of relevant U.S. agencies, the return on investment of the Pelosi couple in 2021 ranked second among all lawmakers, as high as 56.15%, far exceeding Buffett, the “God of stocks” with a return of 26%. Keith Patrick gill, the “wolf of war” on Wall Street, and David Shaw, the “king of Actuaries” on Wall Street, and other well-known investors should be dwarfed.

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Many Americans have realized that Pelosi is not only “the God of stocks on Capitol Hill”, but also “the ultimate insider” and “the biggest dark horse in the United States”.

The founder of Wall Street bets, a well-known retail organization, is promoting a product: “let people invest like a congressman”, which imitates the stock trading of the Pelosi couple.

Behind the amazing yield is the trading opportunity that Pelosi’s husband extremely pinched.

In December 2020, before the Biden administration announced its plan to replace federal government vehicles with electric vehicles, Pelosi’s husband purchased 25 call options from electric vehicle giant Tesla.

In July 2021, while conducting an antitrust investigation on large technology enterprises, Paul bought 4000 shares of Google parent company alphabet. At that time, the market did not think there was any threat to the investigation, and Google’s share price rose instead of falling.

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This time NVIDIA’s operation is the same.

As a leading graphics card manufacturer, NVIDIA’s share price has experienced a strong bull market in the past 10 years. But this momentum stopped abruptly at the end of last year. At the beginning of 2022, its share price has fallen by about 47%. Even compared with the share prices of other companies that have suffered heavy losses in the semiconductor industry, NVIDIA’s decline is significant. However, the chipmaker generated $8.29 billion in revenue in the first quarter.

As we all know, on June 17, Pelosi’s husband bought NVIDIA’s call option.

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Pelosi is not the only U.S. congressman or his family to make profits from stocks by getting information in advance and manipulating insider trading.

Far from it, since the outbreak of the epidemic in 2020 alone, parliamentarians have been repeatedly scandalized for making “epidemic wealth” and “national disaster wealth”:

As early as January 2020, many members of Congress were exposed to selling a large number of self owned stocks after attending a closed door meeting on the COVID-19, avoiding the sharp decline in the U.S. stock market caused by the epidemic.

In February, 2020, Richard burr, the then chairman of the Senate Intelligence Committee and the Republican, was picked out by the New York Times and other American media that he knew that the U.S. epidemic situation was bad but “didn’t report it”, but rushed ashore before the spread of the epidemic led to a sharp decline in stocks in related industries.

In addition to burr, there were at least three senators who held important positions at that time, Diane Feinstein of the Democratic Party, James Inhofe and Kelly Loeffler of the Republican Party, who were accused of using “inside information” to sell stocks before the market fell into trouble.

In December 2021, the website of business insider revealed that 49 members of Congress used the epidemic to conceal and manipulate insider trading, involving the stocks of pharmaceutical companies related to vaccines and testing reagents.

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In the same month, another figure circulated in the US media: 75 members of Congress. They were exposed to holding shares in covid-19 vaccine manufacturers. The investigation showed that at least 54 members of Parliament and 182 high-level congressional staff violated regulations related to conflicts of interest.

This is only an “incomplete statistics”, and mainly related to the epidemic.

According to the report of unusual sheaves, a US financial services website, on the transactions of members of the US Congress, many lawmakers bought and sold stocks at a very “coincidental” time, and made medium and high profits. Industries involve military industry, science and technology, electric vehicles, etc., and relevant parliamentarians often “click” before relevant bills and contracts are passed or signed.

The “stock gate” scandal involving U.S. lawmakers and politicians involves different fields, but the “outcome” is generally the same:

The relevant members were not really held accountable after the matter was exposed.

US media CNBC reported in February this year that “substantial progress” is expected in the bill banning US lawmakers and their relatives from investing in stocks.

It is said that at that time, more than one version of the stock trading ban was under formulation and consideration:

In the Senate, Massachusetts Democratic Senator Elizabeth Warren and Montana Republican Senator Steve deans jointly drafted a version. In addition, Democratic Senator Jon osov and others also proposed a bill banning congressional stock trading.

In the house of Representatives, an administrative committee is also organizing the preparation of rules, “which are expected to be submitted to the vote within this year”.

If it weren’t for Pelosi’s “God of stocks” husband’s reappearance of the “classic operation”, many people might have forgotten that at that time, under the heavy pressure of public opinion, the U.S. Congress had vowed to “destroy relatives with great righteousness” and “reluctantly” cut off the way for lawmakers to make all kinds of “insider wealth” and even “national disaster wealth”.

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But as soon as the wind blew, the news of the relevant bill soon disappeared.

Even through implementation, what can happen?

As early as 2012, the United States passed a “stop using congressional information trading act” against congressmen’s stock speculation. The “Stock Act” stipulates that members of Congress shall not use the non-public information obtained through their positions to trade stocks for profit, and shall disclose relevant information within 45 days of their financial transactions.

But interestingly, the US Congress quietly repealed most of the strictest regulations on transparency in the law in 2013.

The result is obvious, and the law has been ignored since then. As for other laws that restrict the stock trading of congressmen, such as the Securities Act of the United States, they have basically not played a role in the investigation and punishment of the “stock gate” scandal.

As an American scholar said, those American politicians usually shout that “American democracy brings probity” and claim to defend the “freedom” of parliamentarians to conduct stock trading in the United States, a “free market economy country”, but in fact they are “defending” their “freedom” to use all kinds of facilities, including insider information, for personal gain.

For this reason, they even do not hesitate to make “national disaster wealth” and do the “human life business” of the American people.

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